| Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | |
|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||
Profit for the year | ||||||
1,038 | 1,567 | 1,548 | 994 | 2,161 | 2,219 | |
Depreciation and amortization | ||||||
2,274 | 2,335 | 2,000 | 1,844 | 2,153 | 1,674 | |
Currency exchange and transaction (gain)/loss | ||||||
102 | -130 | 98 | -212 | -574 | 168 | |
Impairment of goodwill and long-lived assets | ||||||
627 | 19 | 127 | - | - | - | |
Impairment of investments | ||||||
- | - | - | 368 | - | 22 | |
Impairment of long-lived assets | ||||||
- | - | - | 75 | 1 | 18 | |
Impairment of goodwill | ||||||
- | - | - | - | 49 | - | |
Debt issuance cost amortization | ||||||
30 | 28 | 89 | 36 | 22 | 26 | |
Amortization of deferred connection fees | ||||||
-73 | -96 | -95 | -67 | -95 | -122 | |
Equity in net loss / (income) of associates | ||||||
27 | 49 | 70 | 60 | 75 | 71 | |
Allowance for doubtful accounts | ||||||
88 | 111 | 122 | 110 | 154 | 67 | |
Inventory obsolescence expense | ||||||
25 | 30 | 27 | 12 | 3 | 4 | |
Deferred tax expense | ||||||
58 | 11 | -45 | 101 | -207 | -85 | |
Other non-cash items | ||||||
1 | 9 | -59 | 6 | -4 | 16 | |
Gain from deconsolidation of a subsidiary | ||||||
- | - | - | - | - | 8 | |
Write-off of non-recoverable VAT receivable | ||||||
- | - | - | 9 | 48 | 17 | |
Change in fair value of derivatives | ||||||
- | - | - | -5 | -41 | -145 | |
Decrease/(increase) in trade receivables | ||||||
273 | 212 | 301 | 216 | 157 | 173 | |
Decrease/(increase) in inventory and spare parts | ||||||
1 | 15 | 105 | 111 | -5 | -67 | |
Decrease/(increase) in prepaid expenses and other current assets | ||||||
25 | 37 | -141 | -14 | 266 | -49 | |
(Increase) / decrease in VAT receivable | ||||||
-21 | 38 | 53 | -8 | -128 | -12 | |
Decrease/(increase) in trade payables, accrued liabilities and other current liabilities | ||||||
269 | 31 | 222 | 222 | 462 | 131 | |
(Decrease) / increase in liability for Bitel | ||||||
264 | - | - | - | - | - | |
Dividends received | ||||||
44 | 42 | 47 | 25 | 26 | 4 | |
Net cash provided by operating activities - continuing operations | ||||||
4,236 | 3,849 | 3,617 | 3,592 | - | - | |
NET CASH PROVIDED BY OPERATING ACTIVITES | ||||||
- | - | - | - | 5,027 | 3,851 | |
Acquisition of subsidiaries, net of cash acquired | ||||||
60 | 219 | 195 | 270 | 86 | 1,087 | |
Purchases of property, plant and equipment | ||||||
2,642 | 2,239 | 1,914 | 1,942 | 2,207 | 1,633 | |
Purchases of intangible assets | ||||||
259 | 344 | 732 | 385 | 404 | 265 | |
Proceeds from sale of property, plant and equipment | ||||||
12 | 22 | 6 | 28 | 35 | 26 | |
Purchases of short-term investments | ||||||
1,098 | 522 | 672 | 513 | 583 | 670 | |
Proceeds from sale of short-term investments | ||||||
993 | 787 | 577 | 649 | 602 | 364 | |
Purchase of a derivative financial instrument | ||||||
- | - | - | - | 19 | - | |
Purchase of other investments | ||||||
66 | 51 | 109 | 0 | 38 | 18 | |
Proceeds from sale of shares in Svyazinvest | ||||||
- | - | 843 | - | - | - | |
Proceeds from sales of other investments | ||||||
64 | 7 | 15 | 44 | 0 | 38 | |
Investments in and advances to/from associates, net | ||||||
- | 3 | -2 | -1 | 3 | - | |
(Increase)/decrease in restricted cash | ||||||
1 | -2 | -1 | -17 | -7 | 2 | |
Net cash used in investing activities - continuing operations | ||||||
-3,060 | -2,555 | -2,181 | -2,372 | - | - | |
NET CASH USED IN INVESTING ACTIVITIES | ||||||
- | - | - | - | -2,698 | -3,247 | |
Proceeds from stock options exercised | ||||||
- | - | - | - | 9 | 6 | |
Cash payments for the acquisitions of subsidiaries from entities under common control and noncontrolling interests | ||||||
8 | 864 | 739 | 1,345 | 124 | - | |
Contingent consideration paid on acquisition of subsidiaries | ||||||
0 | 13 | - | - | - | - | |
Repurchase of Comstar-UTS shares (Note 3) | ||||||
- | - | - | - | 100 | 0 | |
Disposal of Comstar-UTS shares (Note 3) | ||||||
- | - | - | - | - | 322 | |
Contributions from SMM, related party | ||||||
- | - | - | - | 4 | - | |
Proceeds from issuance of notes | ||||||
- | 228 | 1,560 | 1,003 | 986 | - | |
Repayment of notes | ||||||
800 | 49 | 862 | 9 | 565 | - | |
Repurchase of common stock | ||||||
- | 0 | - | - | 1,059 | 254 | |
Proceeds from issuance of common stock | ||||||
- | 13 | - | - | - | - | |
Proceeds from sale of treasury stock | ||||||
0 | - | - | - | - | - | |
Notes and debt issuance cost | ||||||
- | 70 | 65 | 105 | 6 | 1 | |
Capital lease obligation principal paid | ||||||
6 | 9 | 12 | 15 | 14 | 22 | |
Dividends paid | ||||||
922 | 1,239 | 975 | 1,266 | 1,147 | 794 | |
Cash deconsolidated on the loss of control over Stream | ||||||
7 | - | - | - | - | - | |
Proceeds from loans | ||||||
580 | 2,043 | 2,839 | 3,598 | 912 | 1,362 | |
Loan principal paid | ||||||
1,241 | 308 | 4,779 | 1,728 | 572 | 876 | |
Net cash used in financing activities - continuing operations | ||||||
-2,407 | -270 | -3,036 | 130 | - | - | |
NET CASH USED IN FINANCING ACTIVITIES | ||||||
- | - | - | - | -1,679 | -258 | |
Effect of exchange rate changes on cash and cash equivalents | ||||||
105 | -100 | -0 | 42 | -340 | 112 | |
NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS | ||||||
-1,126 | 923 | -1,601 | 1,393 | 308 | 458 | |
Income taxes paid | ||||||
548 | 511 | 400 | 432 | 1,035 | 937 | |
Interest paid | ||||||
614 | 633 | 671 | 510 | 285 | 265 | |
Contributed property, plant and equipment | ||||||
1 | 6 | 2 | 3 | 3 | 6 | |
Purchase of Comstar-UTS' shares funded by issuing of the promissory note | ||||||
- | - | - | - | 365 | - | |
Amounts owed for capital expenditures | ||||||
115 | 229 | 180 | 236 | 604 | 383 | |
Payables related to business acquisitions | ||||||
9 | 6 | 23 | - | - | - | |
Building contributed in the share capital of Sistema Mass Media | ||||||
- | - | - | - | - | 4 | |
Capital lease obligations | ||||||
- | - | - | 0 | 5 | 6 | |